[Calc Review] Help me analyze this deal

5 Replies

Howdy @Deforrest Ferguson

You did not include PMI. It is required when your deposit is under 20%. I would increase your CapEx and Repair reserves to 10%/5% respectively. At least until you have the property inspected to determine the current condition and life expectancy of all major components and appliances. Then you can adjust the CapEx amount appropriately.

Originally posted by @John Leavelle :

Howdy @Deforrest Ferguson

You did not include PMI. It is required when your deposit is under 20%. I would increase your CapEx and Repair reserves to 10%/5% respectively. At least until you have the property inspected to determine the current condition and life expectancy of all major components and appliances. Then you can adjust the CapEx amount appropriately.

Is PMI different than MIP ? and thanks for the pointer on CapEx and Repairs

Originally posted by @John Leavelle :

@Deforrest Ferguson

They are basically the same. MIP is actually the one you have if it is an FHA loan. Either way do not forget to include in your Cash Flow analysis.

 On this particular report I did factor that in, though I'm sure it's not the exact number. I added it on to the monthly insurance but now I know where this particular expense goes in future reports. Thanks